Valuation Ruling 316/2011 for graphite crucibles rescinded
KARACHI: The Director Customs Valuation Manzoor Memon has rescinded the Valuation Ruling No. 316/2011 and advised the Customs clearance collectorates to assess graphite crucibles under section 25 of the Customs Act, 1969.
Valuation Ruling No. 316/2011 was issued for assessment of Graphite Crucibles. M/s Perfect Trading, tried to clear a consignment of graphite crucibles under PCT 6912.0090 as ceramic products by declaring the value at $0.15/ kg.
MCC Appraisement Lahore classified the items under 6903.1000 and assessed at $3.39/kg by applying Valuation Ruling no. 316/2011.
Irfanullall Siddiqui of M/s Perfect Trading filed a writ petition before the Honourable Lahore High Court against the above-referred Valuation Ruling. Lahore High Court ordered that Department should treat this petition as application and consider the objections against the Valuation Ruling and decide the matter in accordance with law through a speaking order after hearing all the necessary parties.
Accordingly, Directorate General undertook an exercise to re-determine the assessable value of graphite crucibles.
In compliance of Lahore High Court order, all the concerned parties were invited to participate in a meeting. However, no one appeared on the said date and time.
The import data of past clearance of graphite crucibles was examined. The data revealed that value of graphite crucibles is dependent on specifications and quality and mostly imported by industrial concerns.
Their values all varied considerably. Market survey was also conducted which revealed that the prices of subject item is heavily dependent on specifications. However, the value of $3.39/Kg was at the lower end.
The Director Manzoor Memon upheld the assessment made by MCC Appraisement Lahore and rescinded the Valuation Ruling No. 316/2011 and advised the Customs clearance collectorates to assess graphite crucibles under section 25 of the Customs Act, 1969.